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World Markets Plunge - DJIA Futures Down Nearly 500 Points

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posted on Jan, 21 2008 @ 10:30 PM
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Just remember everyone this was a long time coming.

On a good note, this will not be anywhere near the 1929 worldwide depression because most of the world has a good infrastructure in place, so even if things tank we can get back up on our feet quicker than in 1929.

There is only so much BSing and paper shuffling banks, lenders, and people can do before the BS is spotted and must be dealt with. The time is now.

Things will be ok.

I don't see people rioting, looting and killing, well unless our governments instigate it.

It's time to stick together and be compassionate all over the world.




posted on Jan, 21 2008 @ 10:36 PM
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reply to post by LightinDarkness
 


My pal lightindarkness I knew you would come around here. I have a small confession to make though. Ive been shorting stocks for the past 2 months but friday I made a big mistake and started going long thinking we would see a relief rally.....I guess Ill be one of the many hurting tomorrow.



posted on Jan, 21 2008 @ 10:47 PM
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Originally posted by mybigunit
reply to post by LightinDarkness
 


My pal lightindarkness I knew you would come around here. I have a small confession to make though. Ive been shorting stocks for the past 2 months but friday I made a big mistake and started going long thinking we would see a relief rally.....I guess Ill be one of the many hurting tomorrow.


Like gambling? Try online poker. I play at Poker Stars. I have won pretty good in the past at Ultimate Bet, but still am just one of the boys at Poker Stars. Having lots of fun though. ---PC



posted on Jan, 21 2008 @ 10:56 PM
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Originally posted by Gools
I'm gonna make a pure speculative prediction here...

Tomorrow the FED announces an emergency rate cut (50 bp?) instead of waiting for it's next meeting on January 30th.


.


I'm onto something...




Fund manager PIMCO asks Fed to cut interest rates
Mon Jan 21, 2008 11:41pm EST

PHILADELPHIA, Jan 21 (Reuters) - Bond fund PIMCO on Monday called on the Federal Reserve to cut interest rates immediately as fears of a U.S. recession weighed on stocks worldwide.

Instead of waiting for the next meeting of the Federal Reserve, PIMCO managing director Paul McCulley said rates should be cut now.


Oh by the way:



Gonna be an interesting day tomorrow.
.



posted on Jan, 21 2008 @ 10:58 PM
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reply to post by LightinDarkness
 


Yes you are right now we got Technology but their manufacturing is aleady been outsourced to Asia and now thanks to US government to China, or yo forgot China getting their hands on US weapons technology without having to pay a penny to spies.

Yes technologies are doing great but for the countries that are benefiting are all those developing countries.

Percentage of US Consumption Spent on Foreign Imported Goods

Look at the list and see that almost 80% of technologies are been imported to American for consumption.

www.economyincrisis.org...

How nice to be making it good at the markets but is not even America made.

Also corporate American has been filling out their technology jobs to foreigners even paying for them to move in the US in an effort to avoid hiring our college grads


Last June, a revealing marketing video from the law firm Cohen & Grigsby appeared on the Internet. The video demonstrated the law firm's techniques for getting around U.S. law governing work visas in order to enable corporate clients to replace their American employees with foreigners who work for less.


www.economyincrisis.org...

BTW When was the last time you talked to an American when calling Microsoft help desk lately?


[edit on 21-1-2008 by marg6043]



posted on Jan, 21 2008 @ 11:02 PM
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reply to post by pc is here
 


yeah i screwed up big time...ive been shorting for 2 months made a lot of money cause Ive been seeing this for awhile but I just figured id jump in on a 3 or 4 day relief rally boy did i screw up



posted on Jan, 21 2008 @ 11:02 PM
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reply to post by Gools
 


I agree with you I see also an emergency meeting tomorrow with the fed and the cuts up to .75, but one thing to take into consideration . . .

If the insurance woes has spilled here in American from the UK then we may see morgages companies freezeing their morgage interest rates to consumers.

Until the insurance woes either crash or settle down.

just speculation

But my husband is trying to get the interest rates on the house from 7.2 to the lowest we can lock, so far our morgage comapany countrywide now Bank of American said 5.8 but we know that it went down 5.6 so if they cut their interest rate to 5.2 or less we will got for it. . . and see if they will honor the new rate or come out with an excuse . . . we just have to wait and see.


[edit on 21-1-2008 by marg6043]



posted on Jan, 21 2008 @ 11:09 PM
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The crucial difference between now and 15 years ago is that the US is carrying almost $10 trillion in debt, debt that is growing exponentially, and a debt to GDP ratio that has not been seen since WW2.

Moreover, the US absolutely requires foreign banks to buy up this debt if it is to stave off a financial collapse. If this debt cannot be sold, the US will have no option but to 'print money' just to honour its obligations (or the 'unthinkable' - default on payments, which has never before occurred), and that would lead to astronomical inflation!

And this debt keeps growing - there is absolutely no measures been taken to try and reduce it. Accountants have been 'red-flagging' the situation since the early 90's to no avail...



posted on Jan, 21 2008 @ 11:37 PM
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This is a crash, isn't it? All the market indices in Europe and Asia at this moment are down at least 5% on average. So tomorrow will the Dow drop at least 5% too? That would place it at 11494 tomorrow.

I guess the prediction set for September of last year was just a few months too early.

Yet, the news does not report this in the US. This should be breaking news on CNN. I guess they don't want to scare anyone before tomorrow's market open, but I assure you, tomorrow there will be breaking news about this.



posted on Jan, 21 2008 @ 11:40 PM
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i quess with regan in the white house with bush sr. they were able to do something smart to help the economy and make it not as bad cause i dont remeber it being that bad. but with bush jr. c- and darth vader dick cheny i dont know what to think. they might just decide to invade china so we dont have to pay them back. and go to war with iran to try and make gas cheaper. the scariest thing to me these days is what is going in the white house. the brain rove already left. were just left with binky.



posted on Jan, 21 2008 @ 11:47 PM
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Originally posted by LightinDarkness
running will only guarantee that you LOSE.

I hate to disagree with a professional

but running minimizes your losses
if you wait another week you'll lose
even more. etc ...

I'd rather lose 15% than 50%
there has to be a cut-off point for a loss

If you get shot in combat, a medic tries to stop
the bleeding. Same goes on Wall Street

Liquidation is the word for today

that is only IF you can find a sucker ....
errr I mean buyer



posted on Jan, 21 2008 @ 11:51 PM
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With all of the stuff going on in the US...the sub-prime mortgage crisis, the Iraq War, terrorism, the falling dollar, uncertainty about the elections, The "Cloverfield" Monster...I expect the Dow to fall more than 5% tomorrow. I expect people to go ape-crap and sell off like crazy.

I expect a 10% drop in the Dow Jones Industrial Average by sundown tomorrow.



posted on Jan, 22 2008 @ 12:00 AM
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reply to post by windwaker
 

10% drop ??
yep, that sounds about right
followed by another depressing day
in Europe and Asia based on tomorrows
drop. It's a domino effect. One falls on the other.
a star for you on your intuitive insight



posted on Jan, 22 2008 @ 12:03 AM
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Australia has just closed and lost 7% of All Ords index today.



posted on Jan, 22 2008 @ 12:15 AM
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Originally posted by infinite

FTSE 100 has closed nearly 6% down



German DAX has dropped 7%!!

Friggin' pray for a rebound tomorrow, please please please! pray for it!!


I pray for the exact opposite. It's time to let this market correct itself without being propped up by any more government sponsored bubbles. Corrupt companies, poor financials and bad government need to be held accountable. We need to go through this and come out on the other end with a _real_ world economy.



posted on Jan, 22 2008 @ 12:28 AM
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I don't know about anyone else, but I can't wait for the markets to open. Its gonna be pure entertainment.



I have noticed Canola (crop) prices have been dropping lately as well. Is anything really safe?

Agriculture commodities remain pretty decent. Gold should be holding up better. People are just going mental trying to figure out what to do and causing more problems in the process.

I'm quite happy with my money in various forms of savings.

[edit on 22-1-2008 by Dulcimer]



posted on Jan, 22 2008 @ 12:29 AM
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Helicopter Ben will cut down interest rate very soon.


Perhaps tomorrow morning if they think things will be bad enough. I'll say a full basis point will help physcologically.......for a few weeks.


reply to post by Vojvoda
 






[edit on 22-1-2008 by pompano]



posted on Jan, 22 2008 @ 12:30 AM
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Originally posted by CyberSEAL
We need to go through this and come out on the other end with a _real_ world economy.



Bring back the barter system!



posted on Jan, 22 2008 @ 12:33 AM
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Originally posted by Dulcimer

Originally posted by CyberSEAL
We need to go through this and come out on the other end with a _real_ world economy.



Bring back the barter system!



Very intuitive statement because if everything failed that is what would happen, as long as everyone has their sanity, health and loved ones, everything else can be worked out.

Losing money is never the end of the world, but your life and loved ones are.



posted on Jan, 22 2008 @ 12:34 AM
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*The following is slightly off topic*

Tonight my local news station literally covered the stock market / world economy for 20 seconds.... and then went into sports.


Ugghh.



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